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The Future of Ethereum: USD/ETH (ETH=)

$ETH #Ethereum #Crypto #Cryptocurrencies #FX #Trading #Markets

Ethereum
Ticker: ETH=
Price: 405.87

Although the Ethereum blockchain is the second most popular in the cryptocurrency industry, it actually has a few issues regarding scalability. (Scalability refers to the number of transactions a blockchain can process per second.)

Ethereum is only able to process 15 transactions per second. In the early days of the project, this was not a problem, as not many people were using it. However, as Ethereum has got more popular, it has become the biggest issue the Ethereum blockchain faces.

To give you an idea of how limited it is, the NEO blockchain (which can also process smart contracts) can reportedly process up to 10,000 transactions per second. Unless the Ethereum developers resolve their scalability issue, then organizations might consider using other blockchains to host their smart contracts and dApps instead of Ethereum. If this happens in the future of Ethereum, its price is likely to crash.

So, as you can see, this issue is of paramount importance.

Fortunately, the Ethereum developers are fully aware of these issues and they are in the process of making some significant changes. 

Technical Indicators

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the upside.

The projected upper bound is: 447.77.

The projected lower bound is: 369.76.

The projected closing price is: 408.76.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 32 white candles and 18 black candles for a net of 14 white candles.

Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 31.4848. This is not an overbought or oversold reading. The last signal was a buy 0 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 57.18. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 7 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -24. This is not a topping or bottoming area. The last signal was a sell 7 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 6 period(s) ago.

Rex Takasugi – TD Profile

FOREX ETH= closed up 3.420 at 405.420. Volume was 81% below average (consolidating) and Bollinger Bands were 10% wider than normal.

Open     High     Low     Close      Volume
401.170  410.650  400.610 405.420    84,102
Technical Outlook
Short Term:        Neutral
Intermediate Term: Bullish
Long Term:         Bullish
Moving Averages: 10-period      50-period      200-period
Close:           410.15         333.42         235.85
Volatility:      55             70             106
Volume:          485,720        606,222        410,790

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

FOREX ETH= is currently 71.9% above its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of ETH= at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on ETH= and have had this outlook for the last 45 periods.

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